States › Minnesota › North Mankato

Is North Mankato, MN expensive to live in?

CheapRent takes 16 cents of every $1 people earn here.
🏠 Rent per month (2026)$1,16833% lower than U.S. average
💵 Families earn per year (2026)$87,133about $7,261/month · same as U.S. average
🔑 House price$262,10021% lower than U.S. average

Rent is lower than in 78% of U.S. cities. A typical house costs about 3.0 years of household income. Commutes are short, about 14.8 minutes.

How much money do I need?

To rent here comfortably, you should earn about $46,720 a year. That is $22 an hour at a full-time job.

Is rent cheaper than other Minnesota cities?

Yes. Rent here is cheaper than in most of Minnesota. It is number 31 of 150 cities from cheapest to most expensive.

North Mankato
$1,168
Robbinsdale
$2,252
Fergus Falls
$1,056
New Ulm
$998
Brainerd
$1,271
Marshall
$811
Sauk Rapids
$943

How much do households earn in North Mankato?

Under $25k
5.7%
$25k–50k
26.1%
$50k–100k
34.4%
$100k–150k
19.5%
$150k+
11.3%

Share of households by yearly income. 30.8% of households earn $100,000 or more.

Rent by apartment size in North Mankato

SizeNorth MankatoU.S. average
Studio$1,033$1,338
1 bedroom$873$1,324
2 bedrooms$1,098$1,509
3 bedrooms$1,636$1,698

Median monthly rent plus utilities for all renters, by number of bedrooms.

How expensive is North Mankato overall?

Everyday prices in Minnesota overall are 1% below the U.S. average (index 98.6, U.S. = 100).

Housing
91
Goods (food, clothes…)
101
Utilities
91
Other services
100
U.S. average
100

Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for North Mankato, so the Minnesota figure is shown.

Taxes and bills in North Mankato

🏛️ Property tax$3,161a year · 1.21% of home value · U.S. $3,119
⚡ Electric bill$120a month (typical) · U.S. $156

Life in North Mankato

Commute to work14.8 minU.S.: 26.4 min
College degree40.7%U.S.: 35.7%
Own their home69.7%U.S.: 65.2%
Below poverty line4.5%U.S.: 12.5%
Unemployment2.8%U.S.: 5.2%

Is it cheaper to rent or buy in North Mankato?

Renting is cheaper right now: about $651 a month less.

Renting
$1,168
Owning
$1,819

Owning assumes a typical $262,100 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $26,210 for the down payment.

Frequently asked questions

What is the average rent in North Mankato, MN?

Renting in North Mankato costs a median of about $1,168 a month in 2026, including utilities. The Minnesota median is $1,525.

How much do I need to make to live in North Mankato?

To keep rent under 30% of income, you need about $46,720 a year, or $22 an hour at a full-time job.

Is North Mankato cheap or expensive?

North Mankato is rated Cheap: rent takes 16.1% of the typical household income of $87,133. It ranks 31st cheapest of 150 Minnesota cities we track.

How much are property taxes in North Mankato?

The median homeowner in North Mankato pays $3,161 a year in property taxes, about 1.21% of the median home value.

Is North Mankato more expensive than the national average?

Overall prices in Minnesota are 1% below the U.S. average, according to the U.S. Bureau of Economic Analysis.

How much does a house cost in North Mankato?

The median home value in North Mankato is $262,100, about 3.0 times the typical yearly household income.

14,211 people live in North Mankato. Numbers are typical (middle) values.